The dollar slipped against a basket of major currencies on Wednesday as investors cut back on its safe-haven position after reports that top U.S. officials were seeking a new round of trade talks with China.
The dollar was also weighed down by the rebound in the euro and pound, after British Prime Minister Teresa May's own party had publicly vowed to support the prime minister despite disagreement with her exit plan.
"A lot of news about the British retreat in recent days has reassured investors," said Paresh Upadhyaya, director of currency strategy at Amundi Pioneer Investments. "The dollar has also been suppressed by news that the United States is proposing a resumption of trade negotiations with China."
The Wall Street Journal reported Wednesday that top U.S. officials headed by U.S. Treasury Secretary Robert Nutchin have invited Chinese officials to propose a new round of bilateral trade negotiations.
The escalating unease over the Sino-US trade conflict has weighed on the performance of the renminbi and emerging market currencies as U.S. President Trump threatens to tax more imports from China to address the record U.S. -China trade deficit.

<>The US dollar declined because of reports that US officials were seeking a new r

 

PREVIOUS:Hu Chunhua, vice premier of China's State Council, said that he must clearly opp        NEXT:Japan's core machinery orders far exceeded expectations in July